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Companies have slashed production, postponed investment and laid off workers in their millions.
It has also slashed production of copper and oil as well as cutting investment and costs.
Facing a collapse in global trade and consumer demand, firms slashed production and cut their payrolls to match.
Glencore has slashed production of zinc, coal, copper and oil as well as cutting investment and costs, including jobs.
With unsold goods piling up and finance hard to come by, firms around the world have slashed production even faster than demand has fallen.
Livestock and chicken producers slashed production beginning in 2008, first because of high feed costs and later as the recession slowed meat sales.
Similar(37)
China recently flooded Colombia with cheap resin imports, forcing Las Gaviotas to slash production costs on the products it sells by 40percentt.
Industrial production has stabilized; that means that companies have worked off the excess inventory that led them to slash production in 2001, but not that demand for their products has increased.
But last month, the Ford Motor Company said that it would slash production of pickups and S.U.V.'s.
Japan's automakers have responded by slashing production by 2.2 million vehicles in the current fiscal year.
The ban is expected to slash production of nickel by 80%.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com